Astera Labs, Inc. (NASDAQ:ALAB) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC cut its stake in Astera Labs, Inc. (NASDAQ:ALAB) by 47.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,398 shares of the company’s stock after selling 2,128 shares during the period. Gotham Asset Management LLC’s holdings in Astera Labs were worth $318,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Astera Labs by 354.9% in the fourth quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company’s stock valued at $1,220,080,000 after acquiring an additional 7,186,582 shares in the last quarter. Alliancebernstein L.P. increased its stake in Astera Labs by 2,328.5% during the fourth quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company’s stock valued at $519,506,000 after purchasing an additional 3,760,765 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Astera Labs by 50.5% during the fourth quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company’s stock valued at $312,644,000 after purchasing an additional 792,153 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in Astera Labs by 318.9% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company’s stock valued at $240,873,000 after purchasing an additional 1,384,498 shares during the last quarter. Finally, Jennison Associates LLC bought a new stake in Astera Labs during the fourth quarter valued at $229,991,000. 60.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Astera Labs

In other news, CEO Jitendra Mohan sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $90.90, for a total transaction of $6,817,500.00. Following the completion of the transaction, the chief executive officer now owns 562,500 shares in the company, valued at approximately $51,131,250. This trade represents a 11.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Manuel Alba sold 63,000 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the transaction, the director now owns 444,863 shares of the company’s stock, valued at approximately $28,190,968.31. This trade represents a 12.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 774,390 shares of company stock valued at $62,721,629.

Astera Labs Trading Up 4.6%

Astera Labs stock opened at $94.46 on Wednesday. The stock has a market cap of $15.58 billion, a price-to-earnings ratio of -54.60, a PEG ratio of 6.18 and a beta of 0.33. The company’s 50-day moving average price is $67.63 and its two-hundred day moving average price is $92.42. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. The firm had revenue of $159.44 million for the quarter, compared to analysts’ expectations of $151.55 million. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. Astera Labs’s quarterly revenue was up 144.1% on a year-over-year basis. During the same quarter last year, the company earned $0.10 EPS. Research analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on ALAB shares. Roth Capital set a $100.00 target price on shares of Astera Labs and gave the company a “buy” rating in a research note on Wednesday, May 7th. Craig Hallum boosted their target price on shares of Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Needham & Company LLC lowered their target price on shares of Astera Labs from $140.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Stifel Nicolaus lowered their target price on shares of Astera Labs from $150.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $98.29.

Astera Labs Profile

Astera Labs, Inc designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure. Its Intelligent Connectivity Platform is comprised of a portfolio of data, network, and memory connectivity products, which are built on a unifying software-defined architecture that enables customers to deploy and operate high performance cloud and AI infrastructure at scale.